MARKET UPDATE:Sensex zooms 400 points to 39,870 levels and Nifty hovered around 11,780 levels
Published On: Monday, August 31, 2020 | By: Team KnowMyStock
Equity markets in India today(31st August 2020) gained one percent in early deals, lifted by financials, ahead of the release of Q1 GDP data later in the day. Among the benchmark indices, the S&P BSE Sensex was trading 400 points higher at 39,870 levels after briefly reclaiming the psychological level of 40,000, earlier in the session. The Nifty50 index hovered around 11,780 levels. IndusInd Bank (up 5%, Axis Bank, ONGC, and HDFC Bank (all up 2%) were the top Sensex gainers. On the other hand, Bharti Airtel dipped 1 percent. Reliance Industries rose 2 percent and Future Retail surged as much as 20 percent after Reliance Industries announced the acquisition of retail & wholesale business and the logistics & warehousing business of the Future Group. The majority of the Nifty sectoral indices were trading in the green, led by the Nifty Bank index, up 1.5 percent.
The broader market, on the other hand, underperformed the benchmarks. The S&P BSE MidCap index was trading 0.3 per cent higher while the SmallCap index slipped into the red.
One hundred and fifteen companies including JK Cement and Spandana Sphoorty Financial, are scheduled to announce their quarterly earnings today.
Tags: Indian equity market
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